I think you’re referring to joint venture companies.
It was, as any such things are, risky, but at least the risk was spread out. If you had seven hundred people each investing a small amount (let’s say a pound each, if they were British), the individual losses would be much smaller than the loss of one individual who had sunk seven hundred pounds into the venture.
I think you’re referring to joint venture companies.
It was, as any such things are, risky, but at least the risk was spread out. If you had seven hundred people each investing a small amount (let’s say a pound each, if they were British), the individual losses would be much smaller than the loss of one individual who had sunk seven hundred pounds into the venture.
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recollection from college history
The were called "Trading" or "Commercial" Companies. During the settlement of the English colonies in America, two of the most important were the Virginia Company and the London Company. Investors provided the tools, ships, and other equipment and the colony would return a specific percent of profits back to the Company. Of course, the colony would have to be successful for the Company to make money. That is why the Company was always looking for wealthy investors.
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Joint-stock company
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